Estée Lauder Ends Merger Talks with Gaultier Owner Puig The collapse of merger talks between Estée Lauder and Spanish fashion house Puig has sent shockwaves through the fashion and beauty industry.
The proposed $40 billion deal would have created a retail powerhouse with an unprecedented portfolio of brands, but the two companies ultimately decided that their differences were insurmountable.
For Estée Lauder, CEO Stéphane de La Faverie's statement on Thursday was reassuringly firm, emphasizing the company's "incredible brands" and "strength as a standalone company.